TAX RATES
2016 Tax Rates Schedule X - Single
If taxable income is over
But not over
The tax is
$0
$9,275
$37,650
$91,150
$190,150
$413,350
Over $415,050
$9,275
$37,650
$91,150
$190,150
$413,350
$415,050
no limit
10% of the taxable amount
$927.50 plus 15% of the excess over $9,275
$5,183.75 plus 25% of the excess over $37,650
$18,558.75 plus 28% of the excess over $91,150
$46,278.75 plus 33% of the excess over $190,150
$119,934.75 plus 35% of the excess over $413,350
$120,529.75 plus 39.6% of the excess over $415,050
2016 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)
If taxable income is over
But not over
The tax is
$0
$18,550
$75,300
$151,900
$231,450
$413,350
$466,950
$18,550
$75,300
$151,900
$231,450
$413,350
$466,950
no limit
10% of the taxable amount
$1,855 plus 15% of the excess over $18,550
$10,367.50 plus 25% of the excess over $75,300
$29,517.50 plus 28% of the excess over $151,900
$51,791.50 plus 33% of the excess over $231,450
$111,818.50 plus 35% of the excess over $413,350
$130,578.50 plus 39.6% of the excess over $466,950
2018 Tax Rates Schedule Y-2 - Married Filing Separately
If taxable income is over
But not over
The tax is
$0
$9,525
$38,700
$82,500
$157,500
$200,000
Over $300,000
$9,275
$37,650
$75,950
$115,725
$206,675
$233,475
no limit
10% of the taxable amount
$927.50 plus 15% of the excess over $9,275
$5,183.75 plus 25% of the excess over $37,650
$14,758.75 plus 28% of the excess over $75,950
$25,895.75 plus 33% of the excess over $115,725
$55,909.25 plus 35% of the excess over $206,675
$65,289.25 plus 39.6% of the excess over $233,475
2016 Tax Rates Schedule Z - Head of Household
If taxable income is over
But not over
The tax is
$0
$13,250
$50,400
$130,150
$210,800
$413,350
$441,000
$13,250
$50,400
$130,150
$210,800
$413,350
$441,000
no limit
10% of the taxable amount
$1,325 plus 15% of the excess over $13,250
$6,897.50 plus 25% of the excess over $50,400
$26,835 plus 28% of the excess over $130,150
$49,417 plus 33% of the excess over $210,800
$116,258.50 plus 35% of the excess over $413,350
$125,936 plus 39.6% of the excess over $441,000
2016 Tax Rates Estates & Trusts
If taxable income is over
But not over
The tax is
$0
$2,550
$5,950
$9,050
$12,400
$2,550
$5,950
$9,050
$12,400
no limit
15% of the taxable income
$382.50 plus 25% of the excess over $2,550
$1,232.50 plus 28% of the excess over $5,950
$2,100.50 plus 33% of the excess over $9,050
$3,206 plus 39.6% of the excess over $12,400
Social Security 2016 Tax Rates
Base Salary
Social Security Tax Rate
Maximum Social Security Tax
Medicare Base Salary
Medicare Tax Rate
$118,500
6.2%
$7,347.00
unlimited
1.45%
Additional Medicare 2016 Tax Rates
Additional Medicare Tax
Filing status
Married filing jointly
Married filing separate
Single
Head of household (with qualifying person)
Qualifying widow(er) with dependent child
0.9%
Compensation over
$250,000
$125,000
$200,000
$200,000
$200,000
Education 2016 Credit and Deduction Limits
American Opportunity Tax Credit (Hope)
Lifetime Learning Credit
Student Loan Interest Deduction
Coverdell Education Savings Contribution
$2,500
$2,000
$2,500
$2,000
Miscellaneous 2016 Tax Rates
Personal Exemption (Adjusted Gross Income below $155,650)
Business Equipment Expense Deduction
Prior-year safe harbor for estimated taxes of higher-income
Standard mileage rate for business driving
Standard mileage rate for medical/moving driving
Standard mileage rate for charitable driving
Child Tax Credit
Unearned income maximum for children before kiddie tax applies
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket
Maximum capital gains tax rate for taxpayers in the 25%, 28%, 33%, or 35% bracket
Maximum capital gains tax rate for taxpayers in the 39.6% bracket
Capital gains tax rate for unrecaptured Sec. 1250 gains
Capital gains tax rate on collectibles and qualified small business stock
Maximum contribution for Traditional/Roth IRA
Maximum employee contribution to SIMPLE IRA
Maximum Contribution to SEP IRA
401(k) maximum employee contribution limit
Self-employed health insurance deduction
Estate tax exemption
Annual Exclusion for Gifts
Foreign Earned Income Exclusion
$4,050
$500,000
110% of your 2015 tax liability
54 cents
19 cents
14 cents
$1,000 per qualifying child
$1,050
0%
15%
20%
25%
28%
$5,500 if under age 50 - $6,500 if 50 or older
$12,500 if under age 50 - $15,500 if 50 or older
25% of compensation up to $53,000
$18,000 if under age 50 - $24,000 if 50 or older
100%
$5,450,000
$14,000
$101,300